Peru: Law 29148 establishes the implementation and operation of the Guarantee Fund for the Field and Agricultural Insurance

The Law establishes the implementation and operation of the Guarantee Fund for the Field and Agricultural Insurance. This fund aims to guarantee credits granted by financial institutions to small and medium-sized agricultural producers and finance agricultural insurance mechanisms to reduce the exposure of these producers to climate risks and pests. The fund is managed by the Corporación Financiera de Desarrollo S.A. (COFIDE), under the supervision of a Board of Directors composed of representatives of the Ministry of Agriculture, the Ministry of Economy and Finance, and the Presidency of the Council of Ministers.